Biography

Focusing his work at the intersection of innovation and economic development, Efosa Ojomo is on a mission to use business to alleviate poverty and create prosperity.

A research fellow at the Clayton Christensen Institute for Disruptive Innovation, Ojomo’s work focuses on using disruptive innovation theory to fundamentally change the discourse in the global development community, thus enabling nations to engender their own path to long-term growth and prosperity.

Specifically, Ojomo’s research examines how emerging markets in sub-Saharan Africa, Central and South America, and Asia can engender prosperity for their citizens by focusing on investments in market creating innovations, such as M-PESA, the mobile money transfer platform in Kenya. These innovations, which transform complicated and/or expensive products into simpler and less expensive products for populations who historically could not access them, are unique for their ability to spur long-term economic growth and create employment, a necessary condition for economic development. In 2019, Ojomo will co-author “The Prosperity Paradox“ with Harvard Business School’s Clay Christensen and former Harvard Business Review editor Karen Dillon. The book is the result of a multi-year project on how the disruptive innovation theory and practices have been growing economies and nations.

Ojomo, who came to the U.S. from Nigeria to attend college, worked as an engineer and in business development for National Instruments for eight years following graduation. He soon realized his purpose was much larger than himself. Inspired by a young Ethiopian girl’s story of debilitating poverty, Ojomo started the nonprofit Poverty Stops Here. Since then, he has rallied hundreds of people around his vision and touched the lives of hundreds more. But his ambition is to transform lives; his work at the Christensen Institute is getting him closer to that goal.

Born in Nigeria, Ojomo knows first-hand the effects of poverty. He leverages his personal experiences and marries them with his research. A zealous learner and passionate teacher, he is as inspirational as he is informative.

Ojomo graduated with honors from Vanderbilt University with a degree in computer engineering. He earned his master of business administration from Harvard Business School, where he worked as a researcher under Professor Christensen at the Forum for Growth and Innovation.

Efosa Ojomo is available for paid speaking engagements, including keynote addresses, speeches, panels, and conference talks, and advisory/consulting services, through the exclusive representation of Stern Speakers, a division of Stern Strategy Group®.

A-Z Name

Ojomo, Efosa

Biography

Focusing his work at the intersection of innovation and economic development, Efosa Ojomo is on a mission to use business to alleviate poverty and create prosperity.

A research fellow at the Clayton Christensen Institute for Disruptive Innovation, Ojomo’s work focuses on using disruptive innovation theory to fundamentally change the discourse in the global development community, thus enabling nations to engender their own path to long-term growth and prosperity.

Specifically, Ojomo’s research examines how emerging markets in sub-Saharan Africa, Central and South America, and Asia can engender prosperity for their citizens by focusing on investments in market creating innovations, such as M-PESA, the mobile money transfer platform in Kenya. These innovations, which transform complicated and/or expensive products into simpler and less expensive products for populations who historically could not access them, are unique for their ability to spur long-term economic growth and create employment, a necessary condition for economic development. In 2019, Ojomo will co-author “The Prosperity Paradox“ with Harvard Business School’s Clay Christensen and former Harvard Business Review editor Karen Dillon. The book is the result of a multi-year project on how the disruptive innovation theory and practices have been growing economies and nations.

Ojomo, who came to the U.S. from Nigeria to attend college, worked as an engineer and in business development for National Instruments for eight years following graduation. He soon realized his purpose was much larger than himself. Inspired by a young Ethiopian girl’s story of debilitating poverty, Ojomo started the nonprofit Poverty Stops Here. Since then, he has rallied hundreds of people around his vision and touched the lives of hundreds more. But his ambition is to transform lives; his work at the Christensen Institute is getting him closer to that goal.

Born in Nigeria, Ojomo knows first-hand the effects of poverty. He leverages his personal experiences and marries them with his research. A zealous learner and passionate teacher, he is as inspirational as he is informative.

Ojomo graduated with honors from Vanderbilt University with a degree in computer engineering. He earned his master of business administration from Harvard Business School, where he worked as a researcher under Professor Christensen at the Forum for Growth and Innovation.

Efosa Ojomo is available for paid speaking engagements, including keynote addresses, speeches, panels, and conference talks, and advisory/consulting services, through the exclusive representation of Stern Speakers, a division of Stern Strategy Group®.

Speech Topics

Dissecting the Development Dilemma

Every year, hundreds of billions of dollars are spent on development projects, commissioned by some of the smartest and most passionate development professionals with years of experience. But somehow, progress in development, as measured by poor countries becoming more prosperous, is very slow, explains Efosa Ojomo. Many of the poorest countries 50 years ago are still poor today. In fact, according to data from the International Monetary Fund, some are poorer today than they were in the 1960s. Using theories and models developed by Professor Clayton Christensen and his team, Ojomo explains the underlying causes of this slow progress. He also offers insights as to how investors, entrepreneurs and policy makers (including many development practitioners) can reverse this trend. It will change the way you look at economic development.

Disruptive Innovation in Emerging Markets

In the past, there has been no clear consensus on why the “Great Divergence” – or the economic prosperity of the West over the past several centuries – occurred. Some point to environmental factors; others suggest culture and religion; and many spotlight the economic exploits of the West. Indeed, many of these factors correlate with prosperity, but none get to what causes prosperity. Drawing from his path-breaking research with Harvard Business School Professor Clayton Christensen, Efosa Ojomo reveals the causal mechanism: investments in disruptive innovation. He explores how such innovations suddenly made available products that were out of reach for the average citizen, leading firms to hire people to make, sell and service the products. As Ojomo discusses, this same pattern can be seen with the economic successes of the Four Asian Tigers, Japan, and most recently China. Ojomo provides unique insights as to how firms can successfully invest in and manage disruptive innovations in emerging markets. He also provides frameworks for policy makers as to how they can adopt principles and theories of innovation in order to spur the development of their economies.

Creating Business Models that Flourish in Emerging Markets

The 34 countries that make up the OECD (18% of the world’s population) account for 63% of global GDP. While growth in emerging markets is increasing, high-income countries still dominate global production and consumption. How can business leaders create more vibrant markets for the almost 6 billion people who do not live in the OECD countries? How can they create business models that target the specific circumstances in which many of the citizens in these countries live? Research by Harvard Business School Professor Clayton Christensen and Efosa Ojomo reveals that the key to success is targeting non-consumption. By doing so, firms are able to develop very profitable business models in emerging markets. Drawing on countless case studies, Ojomo shares frameworks for both spotting non-consumption and for building a business model that is laser focused on going after the spotted non-consumption.